Exchange of Information

Effective Exchange of Information (EOI) is key to international tax co-operation. This requires tax administrations to ensure that information is available and maintained within the jurisdiction, that it can be obtained by the tax administration and that there are appropriate exchange mechanisms in place that allow exchange of information.

There are different forms of exchange that can take place. Following are the exchange mechanisms currently in place in the Maldives:

1. Exchange of Information on Request (EOIR) - Exchange of information between treaty partners upon a specific request received for administrative assistance.
2. Spontaneous Exchange of Information (SEOI) – Sharing information with another treaty partner that is foreseeably relevant to the jurisdiction and was not requested in advance.  
3. Automatic Exchange of Information – Regular transmissions of agreed taxpayer data between treaty partners without the need for a request, there are two main types of AEOI currently implemented in the Maldives:

a.  Common Reporting Standards (CRS) - Exchange of financial account information between treaty partners

b. Country-by-Country Reporting (CbCR) - Exchange of information between treaty partners regarding MNEs that qualify under Action 13 of the OECD BEPS requirements